Who can tune out those periodic blaring interruptions to our favorite television programs? This is a test. For the next 60 seconds, this station will
2011 was an active year for regulation of the municipal market, particularly for matters relating to federal securities laws and federal tax laws.
In response to the financial crisis, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd- Frank”) to, among other things, increase regulation of the capital markets.
In response to the financial crisis, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) to, among other things, increase regulation of the capital markets.
On July 15th, the Department of the Treasury, Internal Revenue Service (“IRS”), issued temporary and proposed regulations (the “Temporary Regulations”) addressing when a transfer of certain derivative contracts does not result in an “exchange” to the remaining party for purposes of Section 1.1001-1(a) of the Income Tax Regulations (the “Tax Regulations”) of the Internal Revenue Code (the “Code”).
On July 21, 2011, the Internal Revenue Service (IRS) and Treasury issued temporary regulations (T.D. 9538) that modify Treas. Reg. 1.1001-4 and generally provide that an assignment of a derivative contract by a dealer (or a clearinghouse) to a dealer or clearinghouse generally will not result in a taxable exchange to the non-assigning counterparty.
On July 21, 2011, the Internal Revenue Service (IRS) promulgated a temporary regulation providing very good news for users of derivative contracts.
The Municipal Securities Rulemaking Board ("MSRB") has proposed for comment a new rule, Rule G-36, concerning the fiduciary duty of municipal advisors and proposed interpretive guidance regarding the application of MSRB Rule G-17, which concerns "fair dealing," to municipal advisors and underwriters.
The Municipal Securities Rulemaking Board, or MSRB, is requesting comment on draft amendments to MSRB Rule G-20 (on gifts and gratuities), which would apply the rule to municipal advisors, as well as associated draft amendments to Rule G-8 (on books and records) and Rule G-9 (on preservation of records).
On Wednesday, December 15, Arent Fox LLP submitted a second letter to the US Securities and Exchange Commission in response to the SEC's request for comments about proposed rulemaking by the SEC relating to the Dodd-Frank Wall Street Reform and Consumer Protection Act.